1021 PLEASANT Street, New Orleans, LA 70115

Building Details

Year Built 1940 More

Stories 2 More

Building Size 13,000 SF More

Listing Agency: Talbot Realty Group

Listed By: Christopher Patrick Talbot · License #0000075986 Show Phone

Source: Talbot-realty

Added: Apr 10 Changed: Nov 7 Last Checked: Nov 7 at 2:48PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Talbot Realty Group

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This two-story warehouse and industrial building contains approximately 13,000 square feet, based on a third-party measurement, on an 8,880-square-foot lot. Its interior includes broad open areas and high ceilings, with a flexible layout. The building dates to 1940 and is zoned HU-B1, Historic Urban Neighborhood Business District.

The property is just off Magazine Street, with dining, retail, and neighborhood amenities nearby.

Key Highlights

• Approximately 13,000 square feet, per third‑party measurement
• 8,880‑square‑foot lot
• Two‑story warehouse and industrial configuration with open areas and high ceilings

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$94,478

Cap Rate

4.99%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,889,560 $1.9M

Cap Rate 7%

$1,349,686 $1.3M

Cap Rate 9%

$1,049,756 $1.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 13,000 SF

Gross rent

$117.0K $9.00/SF

− Vacancy

−$5.9K −$0.45/SF

EGI

$111.2K $8.55/SF

− OpEx

−$16.7K −$1.28/SF

NOI

$94.5K $7.27/SF

Area

ZIP 70115

Vacancy

5.00%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,889,560

Cap Rate 7%

$1,349,686

Cap Rate 9%

$1,049,756

Alternative Uses

Best Use

Warehouse

$1.35M

$1.18M – $1.57M (±1% cap)

NOI $94,478 @ 7.0% cap · market cap 4.99%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$3.43M

$3.00M – $4.00M (±1% cap)

NOI $240,084 @ 7.0% cap · market cap 12.67%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Warehouses

Suggested Use

Top Pick Computer & Electronic Repair Accounting Firm HVAC Service Daycare Center Electrical Service Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,486

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 70115, LA

31,736

Population

18,134

Households

1.8

Avg Household Size

38

Median Age

64%

College-Educated

95%

High-School Grad

3.8 sq mi

ZIP Area

8,352

Density / Sq Mi

$94,181

Median Household Income

$57,242

Median Earnings

$1,442

Median Rent

$616,600

Median Home Value

Market

Average Price Trend$/SF for Warehouses in New Orleans, LA

$205 Jul

$129 Aug

$134 Sep

$136 Oct

Properties on Market for Warehouses in New Orleans

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Similar Off Market Nearby

• Public Storage — 3900 Tchoupitoulas St, New Orleans, LA 70115
• Records Management & Protection Inc — Tchoupitoulas St, New Orleans, LA 70115
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Frequently Asked Questions

What type of property is this?

Warehouse - Open interior areas and tall ceilings characterize this warehouse and industrial property.

Where is this warehouse located?

The property is located at 1021 PLEASANT Street New Orleans, LA.

What is the asking price?

The asking price for this property is $1,895,000.

What are key features of this property?

This property features: Approximately 13,000 square feet, per third‑party measurement; 8,880‑square‑foot lot; Two‑story warehouse and industrial configuration with open areas and high ceilings